Twitter shares hit record low

SAN FRANCISCO — Twitter shares hit a record low on Monday, closing down nearly 6% to $29.27.

That is 58% below their peak in January 2014.

Shares have fallen to their lowest point since the company went public in November 2014 weighed down by negative comments on growth from company executives that rattled investors. Its previous low was $30.50 in May 2014 as concerns over slowing user growth began to take a toll.

Chief Financial Officer Anthony Noto said during the company's earnings announcement last week that Twitter did not expect to reignite user growth for a "considerable" time. Twitter did not grow its user base in the second quarter.

Twitter's chairman and founder Jack Dorsey panned efforts the company has made to make the service easier and more intuitive for people to use, contributing to the stock's decline. Dorsey is serving as interim chief executive as the company searches for a permanent CEO. Dorsey and Adam Bain, Twitter's global chief of revenues and partnerships, are frontrunners for the job.

Analysts do not expect Twitter to rebound anytime soon.

"We would look for the fundamentals to change before we got more positive," SunTrust Robinson Humphrey Bob Peck said in a CNBC Squawk Alley interview on Monday.

Twitter now has a $19 billion market cap, its lowest since it started publicly trading. That could make it more attractive as an acquisition target.

"Sometimes a dip in trading price of a stock can be a triggering event for deeper M&A discussions," Ted Hollifield, co-head of the venture and merger and acquisition practice at Alston & Bird LLP, told Bloomberg. "If you were to go down a list of large tech companies with big cash piles, many of those names would make a lot of sense to at least have casual engagement with Twitter now."